Bitcoin’s recent volatility has done some damage to its underlying market structure, despite it being able to post an ardent defense of the lower boundary of its long-established trading range.Yesterday, the crypto plunged to lows of $9,000 before finding any strong support, but it has since been able to rebound from these lows.Despite its ability…
Bitcoin is back in the spotlight of the cryptocurrency market after taking a nearly 10% dum. The sudden bearish impulse saw the asset’s price drop from a high of $9,970 to a low of $9,050.Alongside the price slump, over $80 million worth of long and short BTC positions were liquidated on BitMEX alone.From a technical…
Bitcoin rallied Friday, a day after undergoing a significant sell-off that crashed its price by circa 6 percent.The cryptocurrency’s upside correction came alongside similar recovery moves in the U.S. stocks.The risk-on sentiment led the benchmark bond yields higher to 0.7 percent after four days of decline.A reversal in yields could send bitcoin, as well as…
Bitcoin is down more than 5% and it broke the key $9,300 support zone against the US Dollar. BTC traded as low as $9,089 and it is currently correcting higher towards hurdles.Bitcoin declined sharply after it was rejected one more time near the $10,000 level.There was a break below many key supports near $9,500 and…
Bitcoin saw a sharp drawdown today that led its price to the lower end of its long-held consolidation channel. This decline came about unexpectedly and appears to be the result of the rejection seen at $10,000 yesterday.The cryptocurrency is now showing some signs of weakness as it struggles to garner any upwards momentum, but analysts…
Although Bitcoin has been incessantly swinging between $9,000 and $10,000 over the past few days, the cryptocurrency is technically still in a consolidation pattern.Ever time BTC attempts to deviate from the range, it is rejected — on both sides. Case in point, when the asset rallied to $10,400 last week, a $1,500 drop followed suit.An…
Most major stock indices have collapsed under the pressure of the struggling economy. Whether it is due to the continued correlation between Bitcoin and stocks, or just general market sentiment turning bearish, the leading cryptocurrency by market cap has also started to decline.With the rest of the market in a sea of red, and Bitcoin’s…
Bitcoin’s near-term outlook is growing gloomy as it continued trading within the mid-$9,000 region.After attempting to break above $10,000 yesterday, the benchmark cryptocurrency is now facing heightened selling pressure that has led it down towards $9,500. The support here has been strong in the past, but it remains unclear as to whether it will remain…
Bitcoin throughout its short decade long history has been on a steady uptrend in price and in a secular bull market. But while price is rising, volatility has long been trending down.But what are the reasons behind this trend, and what exactly does this mean for Bitcoin the near and long term?Early Exponential Growth In First-Ever…
Veteran hedge fund manager Paul Tudor Jones on Wednesday criticized the Federal Reserve’s quantitative easing policy.He warned that the central bank might lose track of the inflation that would follow its unprecedented bond-buying programs and lower interest rates.Tudor Jones last month announced that he is investing in Bitcoin as a protective measure against inflation.Billionaire hedge…